Gold futures up 0.35% on firm global cues
Gold futures prices today rose by 0.35% to Rs 27,500 per 10 grams as speculators enlarged positions, largely in tune with a firming trend overseas as US economic data backed the case for sustained monetary stimulus.
At the Multi Commodity Exchange, metal prices for delivery in August gained Rs 96, or 0.35%, to trade higher at Rs 27,500 per 10 gm in a turnover of 2,823 lots.
Similarly, the metal prices for delivery in far-month October edged up by Rs 94, or 0.34%, to Rs 27,499 per 10 gm, clocking a business volume of 599 lots.
Analysts attributed gains in the precious metal at futures trade to a firm trend in overseas markets as US economic data backed the case for sustained monetary stimulus, boosting appeal of the precious metal as a safe haven investment.
Globally, gold rose by 0.60%, to $1,341.20 an ounce in Singapore today.